PIMCO High Income Fund (NYSE:PHK) Plans Monthly Dividend of $0.05

Key Points

• PIMCO High Income Fund declared a monthly dividend of $0.048 per share, payable September 1 to shareholders of record on August 13. The distribution implies a 12.3% annualized yield.
• PHK shares opened at $4.67, up 0.5%, and are trading between a one-year range of $4.41 to $5.04.
• Institutional investors and hedge funds increased their holdings during the fourth quarter; they collectively own 11.75% of PHK’s outstanding shares.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) announced a monthly dividend on Monday, August 3rd. Investors of record on Thursday, August 13th will be paid a dividend of 0.048 per share by the investment management company on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Thursday, August 13th.

PIMCO High Income Fund Stock Up 0.5%

PHK stock opened at $4.67 on Tuesday. PIMCO High Income Fund has a one year low of $4.41 and a one year high of $5.04. The company has a 50 day moving average price of $4.61 and a two-hundred day moving average price of $4.70.

Institutional Investors Weigh In On PIMCO High Income Fund

Several hedge funds have recently made changes to their positions in the business. Integrity Advisory Solutions LLC grew its position in PIMCO High Income Fund by 28.2% in the fourth quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company's stock valued at $82,000 after acquiring an additional 3,707 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of PIMCO High Income Fund by 19.5% during the fourth quarter. Moors & Cabot Inc. now owns 24,500 shares of the investment management company's stock worth $119,000 after purchasing an additional 4,000 shares in the last quarter. MML Investors Services LLC lifted its position in shares of PIMCO High Income Fund by 7.9% during the fourth quarter. MML Investors Services LLC now owns 82,080 shares of the investment management company's stock worth $399,000 after purchasing an additional 6,000 shares in the last quarter. Royal Bank of Canada lifted its position in shares of PIMCO High Income Fund by 4.2% during the fourth quarter. Royal Bank of Canada now owns 149,644 shares of the investment management company's stock worth $727,000 after purchasing an additional 6,043 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of PIMCO High Income Fund by 31,295.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company's stock valued at $31,000 after purchasing an additional 6,259 shares during the period. Institutional investors and hedge funds own 11.75% of the company's stock.

PIMCO High Income Fund Company Profile

The PIMCO High Income Fund NYSE: PHK is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK's investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.

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